Marketline Report for Monday, January 28th
This is Bob Larson with the Market Line Report for Monday, Jan 28th. Activity was mixed and slow in the cattle market Friday. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Cattle was mixed to a little firm even. The cash activity was somewhat slow, but it really just came in here at the end of the day. Hopes that that strong feeder market would really bolster live cattle and start to give it some of a surge, but perhaps it really just offered support as the market was just waiting for some kind of trade to come in. It really came in right at the end of the last day of this shortened week and gave it a little bit more of a shot in the arm. But, if you take a look at live cattle, the deferred months were a little bit lower. It just means that we can't really distinguished as to where the market's going to go down the road, but we can only stay right on top of where we are waiting some news out of the White House if we're going to relieve the government shutdown, we actually can some USDA data."
Chicago March Wheat prices closed yesterday dn 1 ½ at 521
March Corn was up 3 ¼ at 380 ¼
Portland prices for soft white wheat of Ordinary Protein for Jan ended the day unch ranging from 6-15 to 6-45 Hard Red Winter wheat with 11 ½ % protein, prices for Jan were dn 2 ranging from 6-59 ½ to 6-69 ½ DNS wheat with 14 % protein, prices for Jan were dn 1 ½ ranging from 6-59 ¾ to 6-79 ¾
Live Cattle for Feb were up $.70 at 126.05 Jan Feeder cattle are dn $.40 to 143.45 Jan Class III milk was up .01 cents at 13.99
